Classify the Following Definition According to Its Use: to Reduce

question 77

Short Answer

Classify the following definition according to its use: to reduce vagueness, to introduce or explain a new or unusual word, to evoke an attitude about something, or to accomplish some other purpose.
No, as far as the bus company is concerned, you count as a senior citizen only after you've reached sixty-five. You won't be able to get the discount fare for three more years.

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Definitions:

Normal Profit

The minimum profit necessary for a company to remain in business, equal to the opportunity cost of capital and entrepreneurial effort not invested elsewhere.

Entrepreneur's Talent

The unique set of skills, creativity, and determination that an entrepreneur brings to identifying opportunities and building a business.

Implicit Costs

Implicit costs refer to the opportunity costs of using resources that a company already owns, without any direct payment, for its own production purposes.

Explicit Costs

Direct, out-of-pocket payments for wages, rent, materials, and other inputs required for the production of goods or services.